STOP LOSSES ARE YOUR FRIENDS - forex trading hindi book

STOP LOSSES ARE YOUR FRIENDS ~ forex trading hindi book

Many traders fear placing stop losses because they are afraid that they will get stopped out. This is the wrong mindset. A stop loss is a friend that helps you preserve your capital when you are on the wrong side of the trade.

A stop loss is simply what it says, it is a system that you put in place to stop the loss of your capital, just in case the trade goes against you strongly. Dont place stop losses with the idea that you are going to get stopped out, but place it with the idea that you are protected if a trade does something differently than you expect. It will give you the opportunity, if it is hit to step back and position yourself for a more profitable trade set-up and entry.

What happens when you ride a losing trade to long. It depresses your emotions. It keeps you locked in a losing mentality. It takes up margin that you can be using on a better more profitable trade. A stop loss gives you the freedom to move on, and be free from all of the negative things that comes from seeing that losing trade over and over.

Even if you have the capital to ride out a losing trade for months, then whenever you see a more profitable trade set-up in that same currency pair, you are not free to take advantage of that new opportunity because you are stuck in a losing trade waiting for it to turn back in your favor......one day 8^( .

Lets go back and look at that trade from day one. What if you had taken that hit the first day with a 60pip loss. That is quite a hit. You could have simply made 10 pips a day for the next 7 trading days, and youd be a head 10pips. What that would have done is free up your capital as well as your mindset. There is an extra confidence that comes when you go to your platform with no losing trades staring you in the face. It is a feeling of power.

Instead you decided to hold that trade 7 trading days. Now you are in the hole 150 pips, plus you paid 7 days of rollover fees, but things have begin to turn in your favor like you knew they would. That is 7 days that you have locked yourself out of more profitable trades in that currency pair, and who knows when you are going to break even on that pair.

When you have losing trades on your platform, then you are fearful of taking other good trades that you see, because of your margin level, the new trade may go against you and wipe you out, or any number of negative messages that we hear in our heads when we are in losing trades.

Dearest traders stop losses are your Friends. Here is a video that can help you decide how you may want to place your stop losses.

Placing Stops, Traders Whiteboard #4 Click Here

I am certainly not encouraging you to take unnecessary losses, if you are in a situation where you are in harmony with your trend and you have a little retracement that has gone against you temporarily, by all means allow that trade to close profitable.

Just dont allow losses to run on and on and on and on, because its like spiderwebs in the mind and pretty soon, they cloud your vision and your judgment until you are paralyzed and can not do anything until that position comes back into profit. It is better to be out of a good trade wishing that you were in, than to be held hostage in a bad trade that you wish you were out of. Lastly letting trades go to far against you is just breeding grounds for stress and anxiety.

Remember strong dips and rally punish traders who dont have proper stop losses in place.

Trade well, Live Well, Laugh a lot and have Loads of Fun (^_^)


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This blog is not in anyway an enticement or solicitation to trade in the Forex Market. These tips are for informational purposes only and are not to be substituted for legal advice or council. I have written this blog in hopes that it will help you to avoid some of the terrifying pitfalls I had in the Forex Market before I learned better.



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DDoS Attacks Targeting IC Markets Cause Network Issues for oneZero Clients - forex trading online tutorial

DDoS Attacks Targeting IC Markets Cause Network Issues for oneZero Clients ~ forex trading online tutorial

DDoS Attacks Targeting IC Markets Cause Network Issues for oneZero Clients

A sophisticated Distributed Denial of Service (DDoS) attack was carried out with the aim of disrupting the trading environment

Over the last two weeks, a series of connectivity outages have been reported affecting Internet access for hosted customers of oneZero Financial Systems, one of which is Sydney-based broker IC Markets. The outages occurred as several other brokers cited complications with cybersecurity breaches or attempts.

 

According to IC Markets, which uses oneZero to host its MetaTrader 4 environment, it was targeted by a sophisticated Distributed Denial of Service (DDoS) attack with the aim of disrupting its trading environment. Similar to other DDoS incidents, this attack was based on creating a flood of messaging attempts at a server or network to slow it down or ultimately bring it down altogether.
Andrew Budzinski, Director at IC Markets, explained that when the outages first began, he consulted with oneZero. Based on how the outage took place, the initial belief was that there had been a hardware problem that led to routers being replaced. However, when the problem persisted it led to further investigations with its ISP.
Further investigations and consultations with cybersecurity specialists concluded that the ultimate problem was due to an ongoing DDoS attack aimed at IC Markets’ servers. Budzinski explained that the attack was conducted in a way that masked that it was a DDoS and mimicked an ISP issue. This included repeatedly changing the patterns and style of the attack allowing it to get stronger and weaker, and at times ramping up to levels that saturated oneZero’s entire network.
Although the outages were experienced by their MetaTrader 4 customers, IC Markets also operates a cTrader environment, external “DataCenter” or access points, and other infrastructure that was also targeted.

Implementing a Solution

Discovering the problem, and its source emanating from 60,000+ Chinese IP addresses, oneZero and IC Markets have put in place measures to mitigate the outages. Among these are the use of extra datacenters and installation of additional specialized DDOS mitigation hardware.
According to Budzinski, since putting these measures in place, they have been able to prevent further outages from occurring. According to Andrew Ralich, CEO of oneZero, the additional measures being used to route traffic and prevent future attacks represent the most robust solution available.
As to who is behind the attacks, Budzinski stated, “We believe this is likely to be a competitor” and is based on a paid attack to hackers to cause interruptions to IC Markets and oneZero customers.
Ultimately, although the attack was aimed at IC Markets, it has caused collateral damage on other brokers within oneZero’s trading network, and also other technology providers. In addition to oneZero’s traditional role as a provider of Bridging, Aggregation and Risk Management software to a large base of FX brokers and prime brokers, oneZero provides hosted options for MetaTrader 4 and liquidity connectivity services to dozens of forex and CFD brokers.
Therefore, as IC Markets was attacked, so too was a hosted environment being operated by oneZero. According to Ralich, once the target of the attacks was discovered, it was possible to isolate the problem to mitigate further issues for other brokers.
Following the preventative measures put into place by oneZero, attacks were also experienced by networks operated by PrimeXM, BeeksFX and routing provider IPTP. These providers’ networks were used by IC Markets at the onset of the attacks to assist in creating a solution to circumvent the DDoS.
In speaking with Andrew Ralich, we have learned that these providers worked in close cooperation with each other once the nature of the attack was discovered and mitigated on oneZero’s infrastructure, and similar measures were immediately put in place across other providers, limiting the extent of the outages.
Looking ahead, Budzinski believes that IC Markets and oneZero have put in place a solution that should provide for the most secure trading environment possible. He added that if in fact it was a paid attack it may have cost around $5,000 an hour.
Ralich added that the sophistication of this attack and the challenges it presented are an industry-wide threat, and encouraged an open dialogue among FX market participants on how to collaboratively approach and avoid similar issues in the future. “Our sincere thanks go out to our clients for their patience during this attack, to PrimeXM, BeeksFX and IPTP for their openness in cooperating in the interest of our mutual clients, and the FX space as a whole.”

Reference: http://www.financemagnates.com/forex/technology/ddos-attacks-targeting-ic-markets-cause-network-issues-for-onezero-clients/

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Incorporating Price Action into a Forex Trading System - forex trading 1 minute charts

Incorporating Price Action into a Forex Trading System ~ forex trading 1 minute charts

Trading the Forex market has become very popular in the last few years. But how difficult is it to achieve success in the Forex trading arena? Or let me rephrase this question, how many traders achieve consistent profitable results trading the Forex market? Unfortunately very few, only 5% of traders achieve this goal. One of the main reasons of this is because Forex traders focus in the wrong information to make their trading decisions and totally forget about the most important factor: Price behavior.

Most Forex trading systems are made off technical indicators (a moving average (MA) crossover, overbought/oversold conditions in an oscillator, etc.) But what are technical indicators? They are just a series of data points plotted in a chart; these points are derived from a mathematical formula applied to the price of any given currency pair. In other words, it is a chart of price plotted in a different way that helps us see other aspects of price.

There is an important implication on this definition of technical indicators. The fact that the readings obtained from them are based on price action. Take for instance a long MA crossover signal, the price has gone up enough to make the short period MA crossover the long period MA generating a long signal. Most traders see it as "the MA crossover made the price go up," but it happened the other way around, the MA crossover signal occurred because the price went up. Where Im trying to get here is that at the end, price behavior dictates how an indicator will act, and this should be taken into consideration on any trading decision made.

Trading decisions based on technical indicators without taking price action into consideration will give us less accurate results. For example, again a long signal generated by a MA crossover as the market approaches an important resistance level. If the price suddenly starts to bounce back off that important level there is no point on taking this signal, price action is telling us the market doesnt want to go up. Most of the time, under this circumstances, the market will continue to fall down, disregarding the MA crossover.

Dont get us wrong here, technical indicators are a very important aspect of trading. They help us see certain conditions that are otherwise difficult to see by watching pure price action. But when it comes to pull the trigger, price action incorporation into our Forex trading system will definitely put the odds in our favor, it will generate higher probability trades.

So, how to create a perfect Forex trading system?

First of all, you need to make sure your trading system fits your trading personality; otherwise you will find it hard to follow it. Every trader has different needs and goals, thus there is no system that perfectly fits all traders. You need to make your own research on various trading styles and technical indicators until you find a concept that perfectly works for you. Make sure you know the nature of whatever technical indicator used.

Secondly, incorporate price action into your system. So you only take long signals if the price behavior tells you the market wants to go up, and short signals if the market gives you indication that it will go down.

Third, and most importantly, you need to have the discipline to follow your Forex trading system rigorously. Try it first on a demo account, then move on to a small account and finally when feeling comfortably and being consistent profitable apply your system in a regular account.

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Foreign Exchange Markets What You Need To Know - forex trading 5 min chart

Foreign Exchange Markets What You Need To Know ~ forex trading 5 min chart

The foreign exchange markets are situated all around the world. Currency trading is a global activity. Every country in the world uses money and needs to change that money into other currencies in order to trade or interact with other nations. 

Currency exchange happens at every level of society. As an individual, you may have changed money when traveling on business or on vacaation. Or maybe you have sold something on eBay to somebody in another country. Their payment comes in to your account in their own currency, and the bank or other payment processor such as PayPal changes it for you. That is currency exchange at the root level.

Foreign exchange or forex trading has a different purpose, however. When you are trading on the foreign exchange markets you are not buying another currency because you need it. You are buying it in the hope that it will rise in value, so you can change it back and end up with more money than you started out with. 

Of course, it is risky. The price movement could go against you and then you would end up with less money instead of more. So you will want to gather plenty of information about currency trading before you start.

Forex trading began in the 1970s when the major currencies were deregulated so that their values were no longer fixed. The banks and large investors quickly saw the potential for making money from the changing prices. 

The main forex marketplaces are the big financial centers of the world. London sees the highest activity with New York second and Tokyo third. Other major players are Sydney, Zurich and Frankfurt. 

Originally you had to be in one of those places to trade money, or at least have a telephone connection with a broker who was there. It was very difficult for somebody who was not on the spot to act fast enough to react to the sudden fluctuations in price that can happen in the forex markets.

But modern advances in technology have changed all of that. Since the rise of the internet it has been possible to trade on your own account from anywhere. This means that it has become easier and easier for the little guy to get a piece of the action. 

While some people never think about foreign currency from one overseas trip to the next, others are studying charts and financial information or even using automated software in the form of forex robots to make money from the rising and falling prices with the aim of becoming financially free by trading on the foreign exchange markets. 

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4 KINDS OF MARKETS - forex trading book in hindi pdf

4 KINDS OF MARKETS ~ forex trading book in hindi pdf

There are 4 kinds of markets in Forex. You have a range bound market. A bull market. A bear market and a choppy market.

Your range bound market is a market that trades between a set support and resistance.

A bull market (which can also be range bound within a trend channel) is a market that is moving toward higher prices.

A bear market (which can also be confined to a diagonal channel) is a market that is moving toward lower prices or value.

A choppy market is an incoherent market that has no particular direction and is too haphazard to follow.

HOW TO TRADE THESE MARKETS

The best way to trade a range bound market is to buy at support with proper confirmation signals, and to sell at resistance with proper confirmation signals.

The best what to trade a bullish market is to buy pull backs (when price take a dip, or goes lower for a while before continuing to move upward).
The best way to trade a bearish market is to sell peaks (When price goes up for a while before moving downward again).
Stay away from choppy market, they have no direction and make no sense, if you chose to trade in this kind of a market. Trade on a shorter term time frame off of proper signals. Long term trading in this type of market can wipe you out fast, because it has not established a real direction yet.



Have a super trading week.

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This blog is not in anyway an enticement or solicitation to trade in the Forex Market. These tips are for informational purposes only and are not to be substituted for legal advice or council. I have written this blog in hopes that it will help you to avoid some of the terrifying pitfalls I had in the Forex Market before I learned better.

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